Form 1099-K reports payments and transactions for goods and services from third-party settlement organizations and their electronic payment facilitators.
A lowered threshold will mean an increase in the number of Forms 1099-K received. Individual and business clients may have questions about what receiving a Form 1099-K means.
Use this Q&A on Form 1099-K to address your client’s concerns so that you can proactively assist them with gathering the information that they may need for their income tax return.
For a